Diaz Corporation, a distributor of exercise equipment, has the following outstanding shares: 18,000 shares of 2% cumulative preference shares, P75 par and 40,000 shares of P10 par ordinary shares. During its first four years of operations, the following amounts were distributed as dividends: first year, P22,500; second year, P28,800; third year, P40,100; fourth year, P77,000. Calculate the dividends per share on each class of shares for the first year.

Diaz Corporation, a distributor of exercise equipment, has the following outstanding shares: 18,000 shares of 2% cumulative preference shares, P75 par and 40,000 shares of P10 par ordinary shares. During its first four years of operations, the following amounts were distributed as dividends: first year, P22,500; second year, P28,800; third year, P40,100; fourth year, P77,000. Calculate the dividends per share on each class of shares for the first year.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 19EA: Jupiter Corporation earned net income of $90,000 this year. The company began the year with 600...

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